Strategies to Build an Effective Strategy Sheet

Insights

Those who taste triumph rarely do so by accident. In any domain, success emerges from consistency, execution, and (above all) sound strategy. 

Nurturing wealth is no different. Expanding your business, increasing your income, investing wisely—these all play critical roles in the journey toward financial freedom. But without a clearly defined blueprint, much remains up to chance.

For anyone looking to craft an abundant financial future, a well-honed strategy sheet plays a pivotal role.

What Makes Up a Strategy Sheet?

Strategy sheets combine goals, a game plan, and resource allocations. On it, you’ll want to paint a bold yet achievable vision for your finances, while accounting for potential pitfalls and the shifting fiscal landscape.

As you draft this outline, previously hidden inefficiencies will present themselves, and novel investment opportunities may emerge.

Let’s dive deeper into the key traits of a strong strategy sheet.

Long Term Vision

Achieving outsize results starts with setting goals, so begin with the end in mind. Take time to visualize the results you’d like to realize across the full spectrum of your financial life. Some categories to consider are:

• Retirement income and planning
• Purchasing a home or investment property
• Saving for your children’s education
• Diversifying your portfolio
• Cultivating passive income streams
• Settling debt

Once you’ve clarified your general aims within each of these categories, you’ll want to concretize them a bit more by applying the S.M.A.R.T. framework:

• Specific – Spell out precise objectives and the steps to achieve them.
• Measurable – Quantify your goals by setting specific figures or outcomes.
• Achievable –  It pays to think big but keep your goals realistic.
• Relevant – Understand the “why” behind your destination and keep it focused.
• Time-bound – Set deadlines to keep yourself on track toward milestones.

It’s far easier to pinpoint the stepping stones between your current position and your ideal state once you’ve polished your goals into crystal-clear relief. To do so, it helps to follow a proven framework that facilitates clear vision, unwavering focus, and resilient leadership. 

Entrepreneurial Operating Systems (EOS) offers such a framework. If you feel drawn to refine your vision, reach out to our team and ask to speak with Josh Hauser, our EOS implementation expert. 

Plan of Action

Action summons vision into reality. Once you’ve articulated your aims, spell out specific steps to draw your goals closer.

Your action plan should include target metrics with regard to your:

• Income – Brainstorm methods to raise your take-home pay and other income sources.
• Expenses – Forecast your expected outlay on personal support and business spending.
• Savings – Spell out the saving habits needed for emergency funds or future investments.
• Investments – Map out how to acquire your desired assets.

A strong financial strategy requires some built-in resilience. While concrete steps serve as a critical foundation, you’ll need to leave enough flexibility to account for unexpected market turns or shifting life situations. Your action plan should bend, but not break.

Ease of Review and Revision

Once drafted, your strategy sheet should stand as a bulwark against shifting financial tides, guiding your steps as life advances. 

But this doesn’t mean it should reside in a desk drawer, out of sight and out of mind. Changing circumstances, fresh investment opportunities, life reevaluation—they all affect its contents. 

Regularly assess your goals, brainstorm action steps, and adjust your plan as needed. Really, this is why strategy sheets are so critical: without them, you lack the foundation in which to ground your decisions. 

To render review less daunting, employ tactics like:

• Digestible layouts 
• Clear categories 
• Eye-friendly color-coding

Revising your strategy can also spark new insights or considerations.

Tax Forecasting

Forgetting to account and plan for taxes is the financial equivalent of viewing the world through rose-colored glasses. Strategy sheets should present an accurate picture, not a distorted one. 

It’s certainly not the most pleasant topic, but biting the bullet and planning for taxes will pay dividends in the long run. And with proper preparation, you can curtail their impact. 

When crafting your strategy sheet, consider incorporating tax mitigation methods like:

• Purchasing municipal bonds – Help your local government fund roads and schools by investing in municipal bonds. In most cases, mature municipal bonds are exempt from federal taxes (and often state and local levies).
• Prioritize long-term gains – To promote economic stability, the IRS bestows lighter tax rates (0%, 15%, or 20%, depending on income) on assets (such as stocks, mutual funds, and real estate) held for more than one year. Consider aiming long with your asset choices.
• Contribute to a health savings account (HSA) – Health expenses can rear their head unexpectedly. Stay prepared by investing in a tax-deductible HSA, which allows for tax-free withdrawals as long as funds cover qualified medical expenses.

Taxes represent one of life’s few certainties. But wise strategy diminishes their appetite and preserves more wealth for future growth.

Today’s Strategies Begin With Tomoro

No one knows precisely what lies ahead, but that’s no reason to leave your future up to fate. Take charge of your financial destiny: breathe life into your plan with a well-honed strategy sheet. 

While a bold vision and tireless work ethic foretell success, few reach financial victory flying solo. Investment holdings matter, but wise counsel is your greatest asset.

At Tomoro, that’s what we offer. If our 23 years of experience have taught us anything, it’s that there’s no such thing as identical paths. We specialize in crafting personalized plans for any vision, with an innovative approach to risk: as a threat and opportunity. 

Discover how to forge your brilliant tomorrow. Reach out today.